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Best Buy will be the only game in town for many customers. Circuit City was second to Best Buy in the retail consumer electronics market.  (Source: AdRants)
Best Buy shall rule the land when it comes to retail electronics in the U.S.

It’s been a tough road for Circuit City. The retail electronics giant has been pummeled over the years by the likes of Best Buy and Walmart, and has been unable to turn its operations around due to the current state of the economy.

In early November, the company announced plans to close 155 stores in the United States. The stores combined accounted for $1.4 billion USD in sales for fiscal year 2008.

Just a week later, Circuit City filed for Chapter 11 bankruptcy protection -- the filing showed that the company has $2.2 billion USD in debt and $3.4 billion USD in assets. The news got even bleaker today as Circuit City's CEO announced that the company failed to find a buyer and that it could not refinance its debt.

As a result, Circuit City will liquidate all of its remaining stores. The liquidators lined up to sell off the merchandise from the remaining 567 stores include Great American Group, Hudson Capital, SB Capital Group and Tiger Capital.

"We are extremely disappointed by this outcome," said Circuit City CEO James A Marcum "Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited timeframe available, and so this is the only possible path for our company."

In early July, Blockbuster rejected a deal to purchase Circuit City.



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RE: The competition
By TomZ on 1/16/2009 2:41:49 PM , Rating: 2
quote:
I still would go to a "physical" business if everything else (price/product/policies) were the same
Not me. My average Newegg purchase takes approximately 1 minute to complete, if I am being slow. The item conveniently shows up at my door a couple days later.

Compared to the time spent and frustration involved dealing with retail stores...buying online is a no-brainer for me.

Even the small percentage of online returns I have to complete are not really a big hassle. Just today I had to RMA a couple of items back to Newegg. They paid for return shipping, and all I had to do was drop off the package at the local UPS store on my way to lunch. Quick and easy.


RE: The competition
By zinfamous on 1/16/2009 6:18:19 PM , Rating: 2
The other thing that will keep me coming back to B&M stores is people.

Whether they be worthwhile reps that can effectively answer my questions or pimply-faced semi-conscious teens, I prefer being around people most of the time. Call me weird, but the impersonality of the internet reaches critical load with me at certain times.

I feel like many of us, especially those born after the days of AOL and Netscape, are 50% of the way towards the digi-dependent slugs of Wall*E.


RE: The competition
By flydian on 1/16/2009 7:58:25 PM , Rating: 2
Newegg paid for shipping? I've never had them pay for shipping, which is one of the things that bothers me about them. The other would be the 2-3 week wait to get my replacement.

So I end up paying the purchase price, plus extra return shipping, plus 2-3 weeks of no product that is fully paid for, and in the end, I'm left with the distinct feeling that I PAID MONEY just for the honor of weeding out their defective inventory.

I still spend plenty of Geek$$ at Newegg, but am glad to have found some alternatives that are better suited to my needs.


RE: The competition
By tehbiz on 1/17/2009 1:38:09 PM , Rating: 2
yeah why would you want to look at a tv or monitor before you purchase them anyways? its not like you have to look at them when you use them or anything.


"I'm an Internet expert too. It's all right to wire the industrial zone only, but there are many problems if other regions of the North are wired." -- North Korean Supreme Commander Kim Jong-il

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